The overcrowding of Ethereum is already a common problem. It is the top priority of founder Vitalik Buterin to improve the trading speed of Ethereum while maintaining security. In the past few months, the Ethereum Network has reported on record-breaking activities with more than 1 million transactions per day. This growth is in the form of slow or backlogs and leads to a record high.
- A cat controls the Ethereum
CryptoKitties created a miracle of the Ethereum blockchain, the most active smart contract on the Ethereum network. However, CryptoKitties once brought serious transaction congestion to Ethereum, and a transfer could not be successful for a few days.
- The new exchange Fcoin allows Ethereum to have more than 40,000 transactions waiting to be confirmed when the transaction is slow.
Therefore, Ethereum is looking for ways to reduce data stored directly on the chain. Click ethereum to usd price history to learn more about Ethereum prices
Plasma is a capacity expansion solution that uses sub-chains to report to the root chain (ie Ethereum) to increase transaction throughput.
It is essentially a blockchain that exists on the blockchain and consists of a series of smart contracts. For example, Alice’s Ethereum account assets are stored on a sub-chain in Plasma, but her transaction information is stored on the Ethereum root chain. Unimaginable large numbers of transactions can be submitted to the Plasma chain, with very little data coming to the main chain. This is equivalent to a hierarchical court system. You can think of the Ethereum main chain as the Supreme Court, and all lower courts get power from here.
Plasma is not the only expansion solution proposed by Ethereum. Let’s take a look at several other expansion options.
The fragmentation technology currently being deployed in Ethereum is inspired by the traditional database. Specifically, the data in the block is divided into many different “fragments” and stored in each node, which reduces the amount of data stored by each node, and also improves the verification speed of the system. Fragmentation technology is considered to be a longer-term and theoretically feasible expansion scheme, but there are still many problems to be solved to achieve it.
Ethereum’s expansion ideas: decentralized parallelism
At this stage, the expansion of Ethereum is more at the stage of exploration. However, it can be seen from the multiple expansion records proposed earlier that the expansion strategy is more concentrated in the decentralized parallel operation mode. It is worth mentioning that the cryptocurrency market has recently entered a bear market, and the ethereum to usd exchange rate is 435.23USD/ETH.